Shaw and Partners is pleased to be appointed as Joint Lead Manager to the proposed capital raising by Blackstone Minerals Limited (ASX.BSX)

Blackstone Minerals is proposing to raise approximately $50 million by way of a Placement of up to approximately 86.2 million new ordinary fully paid shares issued at $0.58 per security.

The Placement will be conducted in two tranches: Tranche 1 (Unconditional Placement) of up to 38.1 million new Securities to raise approximately A$22 million and Tranche 2 (Conditional Placement) of up to 48.1 million new Securities to raise approximately A$28 million to be issued subject to shareholder approval.

The offer price of $0.58 represents a 16.5% discount to last traded price of $0.695 and a 1.8% discount to the 15-day VWAP of $0.591.

The company plans to spend $30 million of the raise on pilot plant phase 2, $10 million on feasibility studies, and $5 million each on exploration and strategic investments.

Its flagship asset is the Ta Khoa project in Vietnam, where it wants to build an integrated upstream and downstream processing facility to tap into Asia’s growing battery industry.

The offer is available to Australian Sophisticated and Professional Investors only.

For more information please speak to your Shaw and Partners Adviser.